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247.20 -7.00 (-2.75%)

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WPP buys e-commerce software provider Cloud Commerce

Tue, 30th Nov 2021 08:40

(Alliance News) - WPP PLC on Tuesday said it has acquired Lancaster-based e-commerce software provider Cloud Commerce Group Ltd for an undisclosed sum.

Shares in the marketing and advertising agency were down 1.1% at 1,049.25 pence on Tuesday morning in London, in line with the wider FTSE 100 index.

Cloud Commerce provides software to retailers, allowing them to market and sell products through several marketplaces including Amazon, Etsy and eBay, while also managing stock control, warehouse inventory and shipping.

Collectively, the platform has around GBP1 billion per annum in gross merchandise value running through its various integrations.

Cloud Commerce will become part of WPP's Wunderman Thompson network. The deal reflects the group's continued investment into its commerce offering.

"Clients look to WPP to help them market, sell and fulfil across multiple e-commerce channels and marketplaces. With over GBP1 billion revenue transacting through its platform, Cloud Commerce Group already has demonstrable scale and success in managing the complex omni-channel commerce needs of global brands," said Chief Executive Officer Mark Read.

By Dayo Laniyan; dayolaniyan@alliancenews.com